Laiier Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Laiier Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06977977 . The registered office is 7 Gibraltar Walk, London, E2 7LH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs.

In assessing going concern, the directors have a reasonable expectation that the company will have adequate sources of funding or support from its parent company, Laiier Inc, to enable the company to continue as a going concern and to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Subscription revenue

Revenues related to subscriptions are recognized over the period in which the content is made available online and when the related content is similar in value over time. Subscription income received or receivable in advance of the delivery of content is included in deferred income.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are website costs and patent costs. These are amortised to profit and loss account over their estimated economic lives of 3 years, and 10 years from the date the patent is granted, respectively.

2.5. Research and Development

Expenditure on research and development is written off in the year it is incurred.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	3 years straight line
Fixtures & Fittings	3 years straight line

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Laiier Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Financial Instruments

Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 11 (2023: 11)

4. Intangible Assets

	Website costs	Intellectual Property	Total
	£	£	£
Cost
As at 1 January 2024	50,018	109,234	159,252
Additions	-	22,339	22,339
Disposals	(50,018 )	-	(50,018 )

As at 31 December 2024	-	131,573	131,573

...CONTINUED

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Laiier Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Amortisation
As at 1 January 2024	50,018	50,431	100,449
Provided during the period	-	11,455	11,455
Disposals	(50,018 )	-	(50,018 )

As at 31 December 2024	-	61,886	61,886

Net Book Value
As at 31 December 2024	-	69,687	69,687

As at 1 January 2024	-	58,803	58,803

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2024	30,322	9,320	39,642
Disposals	(30,322 )	(6,539 )	(36,861 )

As at 31 December 2024	-	2,781	2,781

Depreciation
As at 1 January 2024	30,322	8,165	38,487
Provided during the period	-	1,155	1,155
Disposals	(30,322 )	(6,539 )	(36,861 )

As at 31 December 2024	-	2,781	2,781

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	-	1,155	1,155

6. Stocks

	2024	2023
	£	£
Stock	54,228	72,203

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	78,567	23,424
Other debtors	68,929	115,598

	147,496	139,022

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Laiier Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	185,296	20,901
Bank loans and overdrafts	22,500	45,000
Other creditors	5,920,407	226,480
Taxation and social security	146,885	31,992

	6,275,088	324,373

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	-	22,500
Other creditors	7,590	-

	7,590	22,500

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	141	141

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	54,060	12,606
Later than one year and not later than five years	8,808	14,452

	62,868	27,058

12. Pension Commitments

The company operates a defined contribution pension scheme for employees The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,483 (2023: £3,373) were due to the fund. They are included in other creditors.

13. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Laiier Inc , a company incorporated in the U.S.A. Group accounts are not prepared.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		69,687		58,803
Tangible Assets	5		-		1,155

			69,687		59,958
CURRENT ASSETS
Stocks	6	54,228		72,203
Debtors	7	147,496		139,022
Cash at bank and in hand		2,810,017		428,017

		3,011,741		639,242
Creditors: Amounts Falling Due Within One Year	8	(6,275,088 )		(324,373 )

NET CURRENT ASSETS (LIABILITIES)			(3,263,347 )		314,869

TOTAL ASSETS LESS CURRENT LIABILITIES			(3,193,660 )		374,827

Creditors: Amounts Falling Due After More Than One Year	9		(7,590 )		(22,500 )

NET (LIABILITIES)/ASSETS			(3,201,250 )		352,327

CAPITAL AND RESERVES
Called up share capital	10		141		141
Share premium account			1,955,795		1,955,795
Other reserves			-		2,157,377
Profit and Loss Account			(5,157,186 )		(3,760,986 )

SHAREHOLDERS' FUNDS			(3,201,250)		352,327